Page 236 - Pakistan Oilfield Limited - Annual Report 2022
P. 236

234
             PAKISTAN OILFIELDS LIMITED


             Notes to and Forming Part of the -
             Consolidated Financial Statements


             For the year ended June 30, 2022



                                                                                     2022             2021
                                                                                          Rupees ('000)
             22.      ADVANCES, DEPOSITS, PREPAYMENTS AND
                      OTHER RECEIVABLES
                      Loans and advances - considered good
                       Employees - note 18                                             30,023           22,329
                       Suppliers                                                      387,618          183,561
                                                                                      417,641          205,890
                      Trade deposits and short term prepayments
                       Deposits                                                        75,532          122,872
                       Short-term prepayments                                         172,404          488,586
                                                                                      247,936          611,458

                      Interest income accrued                                         248,977          174,767
                      Other receivables
                       Joint operating partners                                       313,169          154,659
                       Due from related parties
                        Parent company
                          The Attock Oil Company Limited                               82,657           77,446
                        General Staff Provident Fund                                        -           10,196
                        Staff Provident Fund                                                -           10,571
                        Gratuity Fund - note 38                                       226,505          185,791
                      Sales tax refundable                                          3,141,897        2,566,859
                      Other receivables (net of loss allowance of
                      Rs 310 thousand (2021: Rs 310 thousand))                         18,829           16,752
                                                                                    3,783,057        3,022,274
                                                                                     4,697,611        4,014,389

             22.1     The maximum aggregate amount due from related parties at the end of any month during the year
                      was Rs 82,657 thousand (2021: Rs 77,446 thousand) respectively.

                                                                                     2022             2021
                                                                                          Rupees ('000)
             22.2     The ageing analysis of receivable from related parties is as
                      follows:
                        Upto 3 month                                                   82,657           77,446
                        3 to 6 month                                                        -                 -
                        More than 6 month                                                   -                 -
                                                                                       82,657           77,446

             23.      Short term investments - at amortised cost
                      This amount was invested in market treasury bills (The Government of Pakistan) through Faysal
                      Bank Limited. This amount has matured during current year. The effective interest rate was 7.44%
                      to 12.91% per annum (2021 : 7.05% to 8.35% per annum).
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